Entrepreneurship education challenges and opportunities in indian context

1. Jain.tk@gmail.com
t.k. jain
2012
Entrepreneurship education
Entrepreneurship education needs serious thoughts and some serious
takers. It has to be divorced from the typical MBA education and should
be given its due path. Rather than academic / intellectual capabilities,
entrepreneurship requires decision making and team building
capabilities, thus it required different selection systems, different
training systems and different support systems. This document contains
guidelines for those who are willing to promote entrepreneurship
education in India. The author firmly believes that there is a dire need
to promote entrepreneurship education in India and is passionate to
promote it. The author welcomes feedback, ideas and suggestions from
the readers.
Dr. T.K. JAIN
PARAKH NIWAS
SIVAKAMU VETERINARY HOSPITAL ROAD
BIKANER 334001, RAJASTHAN, INDIA
9414430763

2. 10 Myths about Entrepreneurship
1. Entrepreneurship cannot be taught
2. Entrepreneurship requires lot of money
3. Outstanding and Academically brilliant students only can become entrepreneurs
4. MBA programmes can develop entrepreneurs
5. Existing courses and institutions can develop entrepreneurs
6. Entrepreneurship can be taught like other subjects in MBA curriculum
7. Books in Entrepreneurship are sufficient to understand it
8. For teaching entrepreneurship – MBA professors are most suitable
9. By joining some entrepreneurship forums we can promote entrepreneurship
10. The government support can convert a person into entrepreneur
Are you really serious to promote entrepreneurship ? Why am I asking such questions? Because I
have observed that most people are not serious for promoting entrepreneurship. They are
promoting entrepreneurship just because it is a fashion today and they get some media coverage by
doing this. There are many forums that organise some events for promoting entrepreneurship and
are able to get a lot of money in the process. They are able to get publicity and show off their
activities. Are they really serious to promote entrepreneurship – you can judge yourself.
If you really want to promote entrepreneurship – just focus on creating a culture of
entrepreneurship – where every student is just talking about entrepreneurship. It should not be a
gimmick to get some government funds or some support from some incubator. Entrepreneurs need
the entrepreneurial culture to groom and develop. We can together formulate world class
entrepreneurship programmes – which can benefit millions of people indirectly (one entrepreneur
benefits 1000 persons indirectly on an average).
Select students not on the basis of CAT / GMAT but on the basis of their willingness to take risk, past
accomplishments in leadership and team building, experiences in event management, experiences
in group work and on their vision for themselves.
What should be the curriculum?
No curriculum can fit in to the requirement of entrepreneurship education. You may have a loose
curriculum to guide you – but you should be flexible enough to accommodate events and activities.
What should be taught to the entrepreneurs?
Prepare systems to have guided freedom for the students. Under your guidance they should be able
to explore the world, visit trade fairs, visit industries, visit markets and visit different regions and
places. They should be able to attend meetings, conferences where entrepreneurs come and share

3. their experiences. They should be able to meet with entrepreneurs and read their case studies. They
should be able to develop their passions.
However, following topics should be taught : -
BEP ANALYSIS
MARKETING FOR ENTREPRENEURS
CUSTOMER RELATIONSHIP MANAGEMENT
ACCOUNTING AND FINANCE FOR ENTREPRENEURS
BASIC COMPUTER OPERATIONS
ADVERTISING AND PUBLICITY
NEW PRODUCT AND BRAND MANAGEMENT
BASIC LAWS FOR ENTREPRENEURS
LEADERSHIP
HUMAN RESOURCE DEVELOPMENT
E-BUSINESS AND E-MARKETING
ORGANISAITON BEHAVIOUR
BUSINESS PLAN FORMULATION
ENTREPRENEURSHIP IN RURAL / AGRICULTURE / INFRASTRUCTURE / TOURISM / ENTERTAINMENT SECTORS
SOCIAL ENTREPRENEURSHIP
FAMILY BUSINESS MANAGEMENT
FRANCHISING
Each of these courses should have at least 15 case studies and at the end of the course, the student
should be evaluated on the basis of his report / presentation/ business plan and not on the basis of
typical theory based examinations. There should be concurrent evaluation with at least 50%
weightage of the total marks, which should be based on case analysis, real problem solutions,
projects, class participation and business plan presentation. Each student must participate in at least
4 B-Plan contests, 4 Trade fairs, 4 Industrial exhibitions and must make at least 10 industrial visits
during the study. Each student must write interviews of at least 10 entrepreneurs during his study.
The students should also get a chance to interact with technical experts / industry consultants /
chartered accountants to enable them to formulate detailed project reports (which would be
required as essential part of the programme).
It is not what you teach, but how you teach is equally important. Entrepreneurship education should
be practical and not like typical lecture oriented classes. Students should be given practical
assignment to handle responsibilities and show performance.
What should be the structure of entrepreneurial programme ?
The programme should have study – immersion chain. The student should be given 3-4 months
training and then be put with some entrepreneurs for live projects for 2-3 months and then again be
given 3-4 months training and again be given 2-3 months live projects with some entrepreneur and
be again given 2-3 month rigorous training in business plan formulation and modern business
practices and again be put in charge of some entrepreneurial project and be subsequently given
support in starting a new business.

4. Should there be short duration programmes also ?
Yes, there should be a lot of short duration programmes from 1 day to 6 month programme to
promote entrepreneurship. These programme will thus generate a huge number of entrepreneurs –
which is the need of the hour.
Should there be discussions with failures also?
Yes this is more important. Only a few entrepreneurs succeed, those who fail outnumber the
successful ones. It is important for the students to understand the reasons of failure also.
What can help an entrepreneur?
Networking, exposure to new technology, understanding of business practices and business formats
will help an entrepreneur. There should be regular counseling of the entrepreneur so that the
entrepreneur may change his behavior as per the requirements of the situation.
What should be the ratio of faculty members?
More number of outsiders should be there instead of number of regular students. The outsiders can
be experts / entrepreneurs in their own fields and should have willingness to share their success
stories.
Should there be language barrier?
No – entrepreneurs need not be academically brilliant – but they have some characteristics which
help in their success – like – they are risk takers, bold, courageous, dreamers, freedom lovers,
adaptable, extrovert persons.
Who should be resource persons ?
Invite resource persons from varied backgrounds. Invite successful people to share their memories
of their first success and how they achieved their dreams. Take your students to different business
organizations and let them explore different business formats. Invite entrepreneurs to share their
business incidents.
How should the time table be structured?
Time table should be flexible to accommodate changes. However a few suggestions are : -
The students should devote their time in the following manners : -
10% in talking to entrepreneurs and consultants in exploring new ideas
30% in conducting market surveys and interviews and in preparing business plans
20% in conducing live projects for other entrepreneurs

5. 30% in case discussions relating to entrepreneurs and in solving business cases
10% in class rooms in attending lectures / presentations / discussions on subjects of their studies
What are important pillers in entrepreneurship education?
Motivate the participants in becoming entrepreneur. Motivation is very important. Every occasion
should have some component for motivating the students to become entrepreneurs. Successful
entrepreneurs can also come and share stories of their early struggle – which can inspire the
students. Those entrepreneurs, who have achieved their success without any background or
financial powers, should be invited. Similarly, those persons, who have faced major challenges and
have become entrepreneurs against difficulties, should be invited. I used to invite Mr. Bajrang Jain
(founder promoter of Mascot Publicity) and it used to be very motivating and inspiring for the
students. Similarly I invited Mr. Vishal Choudhary (founder promoter of Parampara Exports) and it
was also very impact making.
What should be the focus of entrepreneurship education?
Entrepreneurship education should focus on 5 elements : -
1. Create a passion for some field
2. Removing fear and building confidence to start something enterprising
3. Extensive exposure to latest happenings across the globe for better understanding
4. Repeated business plan formulation and critical discussions about how to improve them
5. Cultivation of good habits, positive thinking and proactiveness – so that the person uses
money well